Variety (Jan 1949)

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picmmBS BANKS LAUD H'WOOD ECONOMIES Fdm Financier Gianium Sees '49 B.O. ' At Present Levels; Tele No Threat' Business at the boxoffice during* the next year will continue at pres- ent levels, Bernard Giannini opined in New York this week. Giannini, who leaves tot the Coast today (Wednesday), Is v.p. in charge of film loans for the Bank of America In Los -Angeles, largest single source of picture-financing. He has been In New York for the past two weeks interviewing dis- tribution and cirtuit execs on b.o. prospects in order to formulate the bank's plans regarding further film backing, he said. . . , ^ ^ ■ Giannini also made a brief study of what effect TV miglit have on ■ films, he revealed. "It's actually too soon to till," he stated, "but iiiy personal opinion is that tele? vision won't hurt theatre business. As a matter of fact, when the novelty wears otl, television may help. It may make people more movie conscious and cause them to want to see additional films in the- atres." Although he expects grosses to hold up during the next year, Gian- iniiJi ^aid that on the basis of ' his talis in New York he believed audiences would be even more se- lective than in the past. Good pic- tures will continue to do well, he said, while weaker product Willi register a complete flop. ^ ' The tremendous trimming of production budgets by producers— (Continued on page 15) RKO Theatres Take Up $3,000,000 Loan Option On Lower-Interest Rate Ift a move to pick up "cheap Mioney," RKO theatre chain hag eScerdsed an option for an addi- tional $3,000,000 loan from the Equitable Life Assurance Co. The coin, turned over to the circuit last motith, is evidenced by debentures ■ given to the insurance outfit. It brings RKO's obligations on out- Standing debentures to a present total of $23,600,000. Under terms of the loan, RKO is paying 3% annual interest. Addi- tionally, a small amount of prin- cipal is amortized yearly until 1966, When the balance falls due. While there is no urgent need for the added cash, RKO manage- ment took the step open to it under an arrangement of credit which ex- pired at the close of 1948. Reason for the action is the fact that in^ terest rates have risen in the past 12 mohths so that credit now would tarry a 3^%-4% interest charge. Boost In Interest rates, it is noted, does not apply specifically to the film biz but is general as a result of tightening of all credits. Goddard's 175G's Hollywood, Jan. 25. : Paulette Goddard is getting a: straight $175,000 for starring in "Anna Lucasta'V at Columbia. : She reported Monday (24) to start work under 10-week guaran- tee at $17,500 weekly. JOHNSTON TO CLARIFY OFFISH B.O. STATEMENT . ; Hollywood, Jan. 23. Enc Johnston, due in for hud- dles with company toppers, will be principal speaker at L. A. Cham- ber of Commerce's annual meeting tomorrow night (26). Expected slant of his talk, with both com- pany and chamber members, will be to clarify his recent Miami statements that domestic biz is off 10% and foreign biz 20%. Gloom.which-followed statement, which was meant to be optimistic, was unwarranted, Johnston feels. Decline was from alltlme peak year of 1946. Boxoffice has been "good." It's anticipated Johnston Will re^ veal that real problem facing stu- «los is overhead expense. Studios currently are taking all possible to correct this. Report Feldman, MCA in Duel For Selznick Talent Hollywood, Jan. 25. Tremendous underground struggle is reportedly going on be- tween agents Charles Feldman and Music Corp. of America over David O. Selznick's plans to unload his stable of talent. Bitterness results from Feldman's efforts to make a deal with one. of4the major studios to take over the talent, most of which is represented by MCA), v If Feldman succeeds, he'll get the commission on everything paid by the studio over and above what Selznick is now paying the players. MCA will continue to get its com- missions only on the Selznick fees to the perfprmers under: their pres- ent contracts. Since Selznick talent deals were all set at much lower figures than Feldman is'now ask^ ing, there'd be a considerable dif- ferential on which he'd get com- mission. It is understood, therefore, that MCA has been endeavoring to sty- mie Feldman's efforts and to set a deal of Its'own. Warner Bros., which reportedly had been brought close to inking; by Feldman, is under- stood still interested in tlie pack- :age.' Selznick is said to be planning tb go to Europe for as long as two years with Jennifer Jones, follow- ing their expected marriage. Brit. Studio Unions Ask Gov't Emergency Meets On Rank's Dim Prod. Plans London, Jan. 25. Three studo unions with J. Ar^- thur Rank's knowledge and ap- proval have telegraphed' Board of Trade prez Harold Wilson urging an immediate industry conference to consider the new production crisis. Appeal to the government comes as a sequel to the unions' meeting with Rank yesterday (24) following the latest dismissals at the Den- ham and Pinewoodstudiosw It's understood that Rank inti- mated the D & P axings were in- evitable and others may follow later in the year. Britain's ace producer is also reported having j Stated that his present production. ' program (between 40 and 50 pic- tures annually) is within the limits of his financial resources and at this juncture it's impossible to un- dertake further expansion. Prank-Panama Set ' By Schary for M-G Hollywood, Jan. 25. Dore Schary concluded deal with P'^°a»cer-writer team Melvin Frank ""S Norman Panama. iwJ«j'' checked onto Metro last Monday (24). first assignment is to Prt r"*'''™^*' Redhead," Rob- ert Carson Satevepost stoiy. Skouras to Europe Twentieth-Fox prez S p y r o s Skouras flew to Europe Sunday (23) with Athengoras I, Patriarch- elect of the Greek Orthodox Cliurch, to attend the latter's in- stallation as head of the Greek Or- thodox Church tomorrow (Thui'S: day) in Istanbul. Skouras stopped off in Paris Monday (24)' to lunch" with Prince Peter of Greece and then left for Turkey. He's scheduled to return to Paris next Monday (31) for busi- ness huddles with 20th execs In Fi-ance before returning to N. Y, Twentieth chief and Athenagoras flew In the "Sacred Cow," former- ly the private plane of President Truman. SEE COSI GUTS UA Gets Rooney Indie, Others In Hughes Swap; Owners Mum on B.R. Cutbacks in : costs, which are starting to be reflected in film com- pany financial statements recently issued, are winning applause from New York bankers holding loans to the, industry. They feel that the shaking out of excess expendi^ tures came at a particularly oppor- tune time to put the companies in a strong financial position for the future. : ■ "It is much better that the in- dustry went through its reorgani- zation while the boxoffice was down only 10% to 20% than if this in- evitable cutting had been post- poned to a day when boxoffice re- ceipts might be down 40% Or 50%,!' one top banking exec point- ed out this week. He added: : "If the industry was to continue on a solid economic basis, the ne- cessity for getting the water out of its cost structure was evident. The manner in which this has been accomplished in the past year has seen a minimum of disorganization and chaos. . What we feared is that the companies would wait until a real depression came and then go through their organizations hacking (Continued on page 26/ Rank Boycott On U.S.FilmsEasing > .London, Jan. 25. By a gradual process the boycott of major American product on the two Rank circuits, Odeon and Gau- mont-British, is being overcome. After running for several months with very little Yank product other than Universal International and Eagle Lion, which is handled through their own .organization, dates are now being inked for top Hollywood offerings. April 4, for example, RKO will have its first date of the year on the Odeon Circuit, when "The Se- cret Life of Walter Mitty" com- mences its London release. Gau- mont-British circuit, commencing May 9, will be showing "Mr. Bland- ing Builds His Dteam House." An- other important . Yank offering booked for Odeon release is SRO's "The Paradine Case," which is be- ing distributed here by British Lion. Although^the playing time being made available to Yank product is (Continued on page 6) Emfeld in H.O. Huddles Charles Einfeld, new 20th-Fox ad-publicity veepee, Is slated to arrive at the homeofflce Friday (28) to assume his new position, with his contract starting Feb. 1. Einfeld will spend 30 days in New York lining up his staff and huddling with h.o. officials on plans for upcoming product. He's due to return to the Coast early in March. if Howard Hughes, after months of negotiation, will finally get back his three pictures from United Ar- tists as a result of deals approved by the UA board at a special session in New York yester« day (Tuesday). Slated to be mad« with part of the $60O;000 which- Hughes is making available for tha financing of UA indies are "Mrs. Provisional OK By Govt, to Schenck On Chain Interest Mike," a Sam Bischoff production starring Dick Powell, and "Quick- sand," a Sam Stief el - Mickey Rooney production in whicJi Rooney will star. The two pix together will use only $380,000 of the financing which Hughes is advancing to com- pensate UA for the trio of his pix- to which -it is giving up distribu- tion rights. The remaining $220,- 000 will be spread over one or more additional films, but since Hughes is definitely committed for itv the board voted to release his f ilms to him. . Directors also okayed a distri- bution deal,- in no way connected : with Hughes, for "Runaway," (Continued on page 4) . Hollywood, Jan. 25. I Joseph Schenck's proposed acquisition of a 50% interest in the ] giant United California circuit has been handed the blessings of the Dept. of Justice providing Schenck resigns his executive spot with 20th-FOx's studio, it is reported here. Understood that Schenck proposes to cut his connections with 20th as soon as the pending | pj^^g f^j. all-industry meet- Government anti-trust action In-, the Coast to discuss all volving his company reaches some, jj^g^g production-distribution conclusion m the N. Y. Federal problems are definitely off. Idea court. was discussed b« company prexies greenlight -""""c. i _ . . . . .f All-Industry Meet On Coast Called Off; Publicity Held Untimely Government greenlight means I that Schenck will become one of I the largest theatre operators in the country. United California's hold- ings in both the Golden State cir- cuit and T. & D., Jr., Inc. give it control of over 115 theatres. I Schenck, additionally, is the con- trolling stockholder of United Artists Theatres, which has com- (Continued on page 22) Arnall in N.Y. tb Set SIMPP Headquarters Ellis Arnall, new prexy of the Society of Independent Motion Pic* i ture Producers, arrived in New York this week to set up office facilities and staff, and to start actively handling details of his post. SIMPP headquarters hereto- fore has always been on the Coast, and difficulties are being encoun- itered in getting suitable office I (Continued on page 22) at their conclave in Miami Beach last week and vetoed. All-industry meet was originally called by Eric Johnston, prexy of the Motion Picture Assn. of: America, for today (Wednesday), tomorrow and Friday. This was to be a followup to the sessions of top company brass In New York last month. Instead, the closed. confab of tHe prexies or their repsi in Miami last week was substituted and the all-industry huddle "post- poned." Johnston arrived on the Coast from Washington yesterday (Tues- (Continued on page 20) National Boxoffice Survey Bad Weather Trims Trade—'Pit,' 'Juan,* 'Accused,' 'Witch,' 'Joan,' 'Sky,' 'Shoes,' 'Hamlet' Leaders With 11 more new pictures being | chantment'|__jHKO) : and "Walked unveiled and holdovers still clut- tering up many key cities, firstrun biz is- very spotty this session. Snowstorms, sub-zero weather, icy streets and heavy rain also are clipping trade. There are probably more different films playing cur" rently than any week since late last November, with biz widely split up. Pacing the field is "Shake Pit" (20th) which will take first-place by a" wide margin. -"DoTT-Juan" (WB), proving big enough on preesm engagement in N. Y. to hold six weeks, is pushing up into second spot. "Accusert" (Par)r which is catching on better, Will shag third money. "Wake of Red Witch" (Rep), go- ing like a prairie fire, is a strong fourth. "Joan of Arc" (RKO), with additional dates, will finish a close fifth, with every indication of moving higher once Into further release. Sixth slot goes to "Yellow Sky" (20th\ currently mostly hold- over. "Red Shoes" (EL), "Hamlet" (U) and "Words and Music" (M-G) round out the Big Nine; Strongest in runner-up class are "Kissing Bandit" (M-G>, "Paleface" (Par), "Man From Colorado" (GoD, "Every Girl Mawied" (RKO), "En- by Night" (EL) in that order, "So Dear to My Heart" (RKO) looms as outstanding newcomer on basis of initial . playdates this stanza. Preemed in a- four-state area centering on Indianapolis, Cincinnati and Louisville, new Walt Disney is topping all opposi- tion in last-named key and In- dianapolis, It- was smash in latter and terrific in Cincy. "Criss Cross" (U) also started well in L. Ai '' "Letter to Three Wives" (20th> did very-good biz. on .first-week at N. Y. Music Hall. While out be- fore, "Command ■ Decision" (M-G) is terrific on initial N. Y. stanza. "My Own True Love" (Par), due at N. Y. Paramount next, is just okay in K: C. "Dear Secretary" (UA), another new entry, looks oke in Buff. "Act of Violence" (M-G) is getting no place in N. Y. "Chicken Every Sunday'' (20th) shapes on disappointing side on N. Y. preem, "Don't Trust Husband" (UA) is doing nicely in Denver and trim in L. A, "Return of October" (Col) looks big in St. Louis and nice in L. A. "Last Days' Pompeii"-"She," ItKO reissue combo, is registering some strong to sock biz this stanza. (Contpletc Boxoffice Reports on Pages 8-9). 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